In 2020, KPMG Acor Tax delivered a resilient performance with revenue growth of 21,2%.
2020 was a year of economic and social turbulence with the global Covid-19 pandemic changing the way we work and live. It brought tremendous challenges for businesses in Denmark as well as across the globe and accelerated transformation in many aspects of our lives. For us at KPMG Acor Tax, it was also a year where we were resilient and delivered strong results despite the Covid-19 pandemic. We stayed connected and collaborated as we never have before – both across our firm, our global network and with our clients. Our results are the sum of all the contributions, efforts and agile mindset delivered by our people, who worked shoulder to shoulder with our clients to help them conform to the new reality in an ever-evolving global tax landscape.
During the crisis year 2020, our people adapted quickly to the new reality to support our clients during this unprecedented time. We have supported each other and kept our strong passion and commitment to support our clients with their biggest challenges when they needed us the most. We did this by mobilising our 360-degree approach, accelerating technology rollouts and optimising virtual collaboration and ways of working to be able to serve our clients on a continuous basis.
Applying our extensive experience and wide range of competencies, we helped our clients review and transform their tax operations by identifying opportunities, improving processes and integrating technology to enhance their tax operating model. Whether we perform compliance or transformation services, we continuously commit to a partnership where mutual trust, team spirit and credibility are the values we bring to the table.
Looking back through the business lens, we are proud and thankful that despite everything, 2020 was another year where both our existing and new clients put their trust in us as their preferred tax adviser. In the past year, we continued to service more than half of the top-listed companies in Denmark as well as the majority of the largest Danish and foreign-based multinationals with operations in Denmark.
We are very thankful and proud of the trust our clients have put in us during 2020 – both our existing clients, but also a large number of new clients. By mobilizing our 360-degree approach, accelerating technology rollouts and optimising virtual collaboration and ways of working we were able to serve our clients on a continuous basis. Moreover, we remained focused on our strategic priorities and executed against our growth strategy and ambition.
The digital era is bringing many technological advances that are changing the way we work. During 2020, our use of and investment in technology accelerated. In KPMG Acor Tax, this meant walking the talk when saying we use technology in everything we do. Internally as well as externally.
Technology is therefore an integrated part of our business and service offerings which complements our 360-degree approach, enabling us to deliver holistic and sustainable solutions to our clients – both short term and in the long run.
In 2020, our use of technology truly accelerated, and we had to learn how to work remotely as both teams and individuals. Despite the implications caused by Covid-19, we have experienced growth in KPMG Acor Tax, which also means an increased demand for our technical expertise. Therefore, we have again this year invested heavily in developing our tax technology area to reinforce our leading position, which has resulted in the onboarding of in-house development resources and data analysts to support the business with new and innovative tax technology tools.
At KPMG Acor Tax, our organisational culture was the strong glue that helped us navigate safely those unchartered waters of the Covid-19 pandemic. Our challenger spirit, global mindset, passion for tax, integrity and unique team spirit were the glue that brought us together even when we were apart for the majority of the year.
One of the biggest focus areas on the people agenda in 2020 was to find the most meaningful way to recruit and onboard new colleagues in a time where coming to the office was limited. Being able to carry out online interviews, onboard new colleagues from home in a meaningful way and provide tailored online courses, despite the situation, therefore stand as an important milestone. This is a journey that we will continue in 2021, where we aim to fuel the use of technology in our talent management significantly.
At KPMG Acor Tax, inclusion is part of our mindset. Our team consists of seventeen different nationalities, which underpin our strong ability to attract global talent. It is key in fostering a diverse work environment in relation to people with various skills, backgrounds and stages of lives. Our male to female ratio is 51% male and 49% female. We stay committed to sustaining and further developing a caring, inclusive, purpose-led and values-driven culture for our people where everyone feels safe and valued.
Powered by passion for tax, backed by technology and driven by a unique culture that is the sum of all the individuals in our firm, we continue the journey of shaping the future of tax, enabled by our people and technology.